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Games & Commerce

Kakao management, labour agree to extend mediation, postponing risk of first head office strike

Kakao management and its labour union agreed to extend mediation at the Gyeonggi Provincial Labor Relations Commission after wage talks broke down, temporarily delaying the possibility of the company’s first head office strike. A second mediation session is set for May 27. The dispute centres on the wage increase rate and bonus compensation structure. Four affiliates have secured the right to take industrial action after mediation procedures were suspended.

Finance

KOSPI recovers 7,500 level after sell sidecar; foreigners sell for eighth session

South Korea\'s KOSPI plunged more than 5 percent early on May 18, triggering a sell sidecar for a second straight session, but later recovered most losses to regain the 7,500 level. The index ended down 0.31 percent at 7,516.04 after falling as low as 7,142.71. Retail and institutions were net buyers, while foreigners were net sellers. The won weakened against the dollar.

AI & Enterprise

Hedge fund billionaires make opposing bets on Microsoft and Alphabet

U.S. billionaire hedge fund managers Bill Ackman and Daniel Loeb took opposing positions on Microsoft and Alphabet in the first quarter, a filing-based report showed. Ackman’s Pershing Square built a new Microsoft stake of about 5.65 million shares worth roughly $2.09 billion, while Loeb’s Third Point sold its entire Microsoft holding and added about 175,000 Alphabet shares. The split is linked to differing views on AI investment and valuation.